Heartflow (NASDAQ:HTFL) Downgraded by Wall Street Zen to "Hold"

Key Points

• Wall Street Zen downgraded Heartflow from “Buy” to “Hold.” Despite mixed analyst views, MarketBeat’s consensus remained “Moderate Buy,” with a $48.62 average target versus the stock’s $52.40 opening price.
• Heartflow reported quarterly revenue of $64.08 million, up 47.7% year over year, and a loss of $0.07 per share—narrower than analysts’ expected loss of $0.22.
• Insiders sold a combined 328,038 shares worth about $15.5 million over the past 90 days; the disclosed transactions were made under pre-arranged trading plans.

Heartflow (NASDAQ:HTFL - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued on Saturday, Wall Street Zen reports.

Other equities analysts have also recently issued reports about the company. Weiss Ratings reiterated a "sell (d-)" rating on shares of Heartflow in a report on Wednesday. Canaccord Genuity Group boosted their target price on shares of Heartflow from $45.00 to $56.00 and gave the company a "buy" rating in a research note on Tuesday, September 22nd. Benchmark restated a "buy" rating on shares of Heartflow in a research report on Friday, August 14th. Piper Sandler restated an "overweight" rating and issued a $64.00 target price (up from $45.00) on shares of Heartflow in a research note on Tuesday, October 20th. Finally, UBS Group started coverage on shares of Heartflow in a research report on Wednesday, September 9th. They issued a "neutral" rating and a $55.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $48.62.

Heartflow Price Performance

NASDAQ HTFL opened at $52.40 on Friday. The business's fifty day moving average price is $51.28 and its 200-day moving average price is $34.64. Heartflow has a 1-year low of $20.13 and a 1-year high of $60.56.

Heartflow (NASDAQ:HTFL - Get Free Report) last released its earnings results on Thursday, August 13th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.22) by $0.15. Heartflow had a negative return on equity of 23.52% and a negative net margin of 55.82%. The firm had revenue of $64.08 million during the quarter. The company's revenue was up 47.7% compared to the same quarter last year. Research analysts anticipate that Heartflow will post -0.75 EPS for the current fiscal year.

Insider Activity at Heartflow

In other news, insider Campbell Rogers sold 23,933 shares of Heartflow stock in a transaction on Thursday, October 22nd. The shares were sold at an average price of $55.01, for a total value of $1,316,554.33. Following the completion of the sale, the insider owned 73,453 shares in the company, valued at $4,040,649.53. The trade was a 24.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Vikram Verghese sold 29,714 shares of the company's stock in a transaction on Friday, September 11th. The shares were sold at an average price of $50.06, for a total value of $1,487,482.84. Following the transaction, the chief financial officer directly owned 184,789 shares in the company, valued at approximately $9,250,537.34. The trade was a 13.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 328,038 shares of company stock worth $15,490,354. 7.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Heartflow

Large investors have recently made changes to their positions in the business. Allworth Financial LP increased its holdings in shares of Heartflow by 116.4% during the 3rd quarter. Allworth Financial LP now owns 1,145 shares of the company's stock worth $57,000 after purchasing an additional 616 shares during the period. Pier 88 Investment Partners LLC purchased a new stake in Heartflow during the third quarter valued at about $174,000. M&G PLC purchased a new position in shares of Heartflow during the third quarter valued at approximately $15,978,000. Pictet Asset Management Holding SA purchased a new stake in shares of Heartflow during the 3rd quarter valued at about $551,000. Finally, Inscription Capital LLC acquired a new stake in Heartflow in the third quarter worth about $209,000.

About Heartflow

Heartflow, Inc is a medical technology company that develops artificial intelligence-based tools to help physicians diagnose and manage coronary artery disease. Its platform uses data from coronary computed tomography angiography (CCTA) scans to create personalized, three-dimensional models of a patient's coronary arteries and provide noninvasive assessments of blood flow and disease.

The company's products include Heartflow Analysis, which provides fractional flow reserve computed tomography (FFR-CT) evaluations to help identify potentially significant blockages, as well as tools for assessing coronary plaque and planning treatment.

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